In today’s world, energy plays a large role in all aspects of life, and one of the big questions is: what is the best method to harness the energy that is available?
One of these methods is through oil and gas and is considered to be one of the biggest industries in the world.
To start, there are three separate areas when it comes to the industry on a whole:
- Upstream: This refers to the exploration for oil and gas, whether that means searching underwater for these resources or drilling into exploration wells to recover resources that are available. This is where D&L Oil & Gas are seeing particular success, as they have developed a new method of crude oil extraction thanks to their unique patent-pending pump technology.
- Midstream: Essentially, this is the transporting, storage, and processing of all oils and gas. There is a refinery process, which is rarely in the same location as the extraction site, so in order to begin that process, the crude elements need to arrive there. Transportation can occur in a variety of ways, whether that is a pipeline, trucking fleet, or tanker ship, among others.
- Downstream: This is the filtering and refining process itself, from which the product is distributed to consumers in forms like natural gas, diesel oil, petrol, gasoline, and many other types of petrochemicals.
Most recently, the industry has finished 2018 strong, making it the second consecutive year of recovery. This positive trend is inspiring confidence in oil and gas in general, and growth is continuing to increase.
Although it is early to tell what opportunities 2019 will bring, but overall, the industry is expected to expand, with many positive signals at play. Employment appears to be on the upswing, after seeing an increase of 100,000 jobs and almost 800 additional active drilling rigs. The price of crude oil has also stabilized, just in time for the North Sea oil and gas fields to make a comeback as one of the most mature oil and gas basin locations in the world.
D&L Oil and Gas especially promises to see some exciting movement throughout the coming year. As they continue to grow in size and revolutionize the existing oil extraction methods, there will be almost an entirely new market to tap into, and lands that were previously thought to be void of any more crude materials could see new life.